70 year lease on house instead of buying outright

colmmcgettrick

Not an option I have seen, but wondering about the pro’s and con’s . Might be a route to enable current generation to afford a house in their 30’s ? After 70 years house might revert to being owned by property management group or the county council depending on framework of initial purchase. They then have an added interest to maintain the area.

colmmcgettrick

Please add ur own pros and cons, thanks

zell12

We have it already, they call it social housing

Jim_Hodge

It's also called renting or even social housing.

How does it differ? You still have to pay for the lease.

Furze99

https://www.boards.ie/discussion/2058314154/70-year-lease-on-house-instead-of-buying-outright

Leasehold as opposed to Freehold, I think you refer to. Common enough in commercial property here I think. But less so in residential afaik. Goes back to our innate historical distrust of landlordism etc I guess and our desire to own land/ property. I recall from study days that more common in UK as an option.